AICPA Peer Review
AICPA PEER REVIEW SERVICES FOR CPA FIRMS
Lilling & Company LLP provides nationwide AICPA peer reviews for CPA firms, offering System Reviews and Engagement Reviews. With thousands of reviews completed, we deliver a clear, efficient, and well‑supported process from planning through report issuance.
We have performed more peer reviews in New York than any other firm since the program’s inception and continue to support firms across the United States. Our experience spans diverse firm profiles and industries including commercial entities, employee benefit plans, not-for-profits organizations, investment entities, real estate entities, construction contractors, and common interest realty associations. Our approach emphasizes clarity, consistency, and a smooth, well‑organized review experience.
what is the aicpa peer review program?
The AICPA Peer Review Program is a triennial evaluation for firms that perform certain accounting and auditing services. It assesses whether firms have complied with applicable professional standards in all material respects.
System Review — for firms that issue audits; the reviewer evaluates the firm’s system of quality management and selected engagements.
Engagement Review — for firms that do not issue audits and perform SSARS services; the reviewer evaluates selected engagements for conformity with standards.
Peer Review Resources
Explore our in‑depth resources that help firms understand, prepare for, and navigate the AICPA Peer Review process:
Why Firms Choose Us
Extensive AICPA peer‑review experience across System and Engagement Reviews
Clear, supportive process from planning to report issuance
Practical communication with partners and staff throughout the review
Follow‑ups, when required by the administering entity, to help firms complete remediation
Our Peer Review Process
Scoping Conversation — Confirm services, industries, review type, and timing.
Tailored Request List — Provide a concise PBC list aligned to your practice.
Understanding the Firm — For System Reviews, evaluate the system of quality management (risk assessment, monitoring, independence, personnel, methodology).
Engagement Selection and Review — Evaluate selected engagements and related reporting for conformity with standards.
Exit Conference — Discuss observations, required actions, and best practices.
Report Issuance — Finalize the peer review report and required communications.
Follow‑Ups (If Necessary) — Support remediation steps required by the administering entity.
industries and engagements we commonly review
Commercial — Risk assessment, sampling, and presentation tailored to industry characteristics.
Employee Benefit Plans — ERISA‑focused planning, testing, and disclosures.
Not‑for‑Profit — Compliance with applicable standards, financial reporting, and disclosures.
Investment Entities — Valuation, instruments, and related disclosures.
Real Estate — Revenue recognition, leases, impairment, and disclosures.
Construction — Contract accounting, methods, and presentation.
Common Interest Realty Associations — Reserves, assessments, and reporting.
SSARS Reviews & Compilations — Appropriate reporting, documentation, and presentation.
Frequently Asked Questions
How often do CPA firms need an AICPA peer review?
Most firms are on a three‑year cycle. Your administering entity confirms the due date in PRIMA.
What is a System Review and who needs it?
Firms that issue audits undergo a System Review. The reviewer evaluates the firm’s system of quality management and selected engagements.
What is an Engagement Review and when does it apply?
Firms that do not issue audits but perform SSARS services undergo an Engagement Review focused on selected engagements.
How long does the peer review process take?
Timelines vary by firm size, engagement mix, and scheduling. Our process emphasizes early scoping and steady communication.
What happens if issues are identified?
We discuss them at the exit conference, outline required responses, and—if necessary—conduct follow‑ups after report issuance to help document remediation appropriately.